America is no longer a sovereign country. Our government sold it for money.
I understand our debt as a country is such that each man, woman, and child, in the country would be required to pay around forty thousand dollars each to pay it off.
That is a large sum. But is it actually feasible? Probably.
I have faith in our country. I think we have enough people who love, and feel a strong patriotism toward it, that we would support an administration that stopped run-away debt accrual and paid off what we owe, or at least most of it.
Not only would we proudly support such an administration, we would respect and honor it.
Forty thousand dollars in debt per person could multiply so quickly - just by a small jump in interest charged by our foreign creditors. Forty thousand to two hundred thousand would be a whole lot harder to pay off. What about a million per person? That is not an impossible number with raising interest rates.
I do not vilify our debtors - they were only investing in the greatest country ever. But now, when our ability to actually pay up is coming into doubt, what will they require us to do?
We have already done it - we are no longer sovereign.
Monday, January 4, 2010
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